AusRAIL, Market Sectors

Iron Boomerang project flies back from Asia with support

<p>Proponents of the ambitious bid to link Queensland’s coal fields with Western Australia’s iron ore mines, will push ahead with a US$120m feasibility study in July.</p> <p>As reported in <em>Lloyd’s List DCN</em> on May 11 last year, the so-called Iron Boomerang project would involve building a 3,000 km rail line across northern Australia to link the two commodities by land.</p> <p>Smelters on either coast are presently having either coal or iron ore shipped.</p> <p>The idea is seen as a major value-adding option for Australia’s two largest mining industries.</p> <p>The project was pitched to BHP Billiton, Rio Tinto, Xstrata and many of the major customers in Asia.</p> <p>The Australian East West Rail and Industrial Smelting Parks Project consortium hopes to begin a feasibility study in July with a view to beginning construction in 2009.</p> <p>The total cost of the project has been estimated at around $55bn. </p> <br />